Four-Unit Apartment
For Sale
$1,125,000
Pending
40 Foster St, Martinez, CA 94553
Four two-bedroom apartments feature coin-operated laundry, carport parking, new windows, and a new roof.
Property Size3,312 SF
Days on Market155
Property Features for 40 Foster St
General Information
Standard status
Pending
Size
3,312 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
IN NEED OF SOME TLC
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
onsite coin-operated laundry
carport parking
Building Details
Year Built
1964
Listing Agency:
United Apartment Group
Listed By:
Theodore Booras · License #01147469
(925) 322-1474
Source:
Exitrealty
Added: Apr 1
Changed: Sep 2
Last Checked: Sep 1 at 5:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of United Apartment Group
Investment Insights
Based on property information with market context.
This fourplex contains four two-bedroom, one-bath apartments, each measuring approximately 828 SF, for a total property size of 3,312 SF. The building dates to 1964 and includes on-site coin-operated laundry with owned equipment, carport parking, new windows, and a new roof. The property needs some TLC, providing a clear physical improvement component.
Views extend toward Carquinez Bay and the Martinez Valley, with downtown Martinez also visible. The property is within one block of Rankin Swim Center and Park and is near downtown Martinez.
Views extend toward Carquinez Bay and the Martinez Valley, with downtown Martinez also visible. The property is within one block of Rankin Swim Center and Park and is near downtown Martinez.
Key Highlights
- Four two‑bedroom, one‑bath apartments at approximately 828 SF each
- 3,312 SF property built in 1964
- On‑site coin‑operated laundry with owned equipment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,704
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,134,080
$1.1M
Cap Rate 7%
$810,057
$810.1K
Cap Rate 9%
$630,044
$630.0K
Market Conditions
NOI Build-Up for 3,312 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$85.4K $25.80/SF
− Vacancy
−$4.4K −$1.34/SF
EGI
$81.0K $24.46/SF
− OpEx
−$24.3K −$7.34/SF
NOI
$56.7K $17.12/SF
Area
Contra Costa County, CA
Vacancy
5.20%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,134,080
Cap Rate 7%
$810,057
Cap Rate 9%
$630,044
Alternative Uses
Best Use
Multifamily LT 5
$810.1K
$708.8K – $945.1K
NOI $56,704 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$752.1K
$658.1K – $877.5K
NOI $52,649 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,636 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 94553, CA
49,756
Population
19,626
Households
2.5
Avg Household Size
42
Median Age
42%
College-Educated
94%
High-School Grad
61.6 sq mi
ZIP Area
808
Density / Sq Mi
$121,023
Median Household Income
$70,337
Median Earnings
$2,247
Median Rent
$781,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments feature coin-operated laundry, carport parking, new windows, and a new roof.
Where is this quadplex located?
The property is located at 40 Foster St Martinez, CA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath apartments at approximately 828 SF each; 3,312 SF property built in 1964; On‑site coin‑operated laundry with owned equipment
